Finance minister Nirmala Sitharaman has announced a three-month nationwide initiative aimed at returning unclaimed financial assets worth Rs 1.84 lakh crore to their rightful owners. The campaign seeks to reconnect individuals and families with funds that have remained dormant across banks, the Reserve Bank of India (RBI), and other financial institutions.

Nationwide Effort to Reunite Citizens with Dormant Funds

The newly launched campaign emphasizes that these funds belong to individuals, not the government. By mobilizing financial institutions across the country, the initiative aims to simplify the process of identifying and reclaiming forgotten deposits, insurance proceeds, and other financial holdings. The finance minister underscored that returning these assets is both a moral and administrative responsibility, ensuring that citizens regain access to what is rightfully theirs.

Focus on Awareness and Accessibility

A central component of the campaign is public awareness. Many account holders or their heirs remain unaware of dormant accounts or investments left unattended for years. Through outreach programs, advertisements, and digital platforms, the government intends to inform citizens about how they can check for unclaimed amounts and initiate claims efficiently.

UDGAM Portal as a One-Stop Solution

To streamline the process, the Reserve Bank of India’s UDGAM (Unclaimed Deposits – Gateway to Access Information) portal will serve as a unified platform for tracking unclaimed deposits across multiple banks. The portal allows users to search for their names or those of relatives in one place rather than approaching individual banks separately. This digital integration is expected to make recovery faster, more transparent, and user-friendly.

Institutional Coordination and Accountability

The finance ministry has directed officials from banks, insurance companies, and other financial bodies to actively assist claimants during this three-month period. Dedicated help desks are being set up at branches nationwide to guide customers through verification procedures and documentation requirements. The coordinated approach ensures that no eligible claimant faces unnecessary delays or procedural hurdles in retrieving their funds.

Significance for Financial Inclusion

Experts view this initiative as an important step toward strengthening financial inclusion in India. By returning idle money to individuals and families, the campaign not only restores trust in formal banking systems but also encourages responsible financial management among citizens. The recovered funds could potentially be reinvested into savings or productive ventures, contributing indirectly to economic activity at the grassroots level.

The finance minister’s announcement highlights a broader vision of transparency and citizen empowerment within India’s financial ecosystem. By leveraging technology through platforms like UDGAM and promoting institutional collaboration, the government aims to ensure that every rupee finds its rightful owner—transforming forgotten balances into renewed opportunities for countless households across the nation.